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JDM Buys More State Farm Properties


JDM Partners bought two properties at the Papago Park Center development on the Phoenix-Tempe border from State Farm Insurance for $38M, including a State Farm data center building. This is the latest in a series of buys for JDM, reports the Phoenix Business Journal. In 2014, the investor acquired an 11-state State Farm operations center portfolio totaling 3.4M SF, and in 2013, it bought five buildings in Tempe’s Fountainhead Corporate Park from State Farm for $73M. That was a sale leaseback deal. [PBJ]